Mercuria Energy Trading S.A (“Mercuria”) has closed its USD 2.25 Billion Multicurrency Revolving Credit Facilities (the “Facilities”). ABN AMRO Bank N.V., Coöperatieve Rabobank U.A., Crédit Agricole Corporate and Investment Bank, Credit Suisse (Switzerland) Ltd, Industrial Commercial Bank of China Limited, London Branch , ING Bank N.V., Mizuho Bank, Ltd., NatWest Markets plc, Natixis, Société Générale (acting through its corporate & investment banking division), Sumitomo Mitsui Banking Corporation and UniCredit Bank AG acted as Bookrunning Mandated Lead Arrangers. Bank of America Merrill Lynch International Limited, Bank of China Limited, London Branch, Commerzbank AG London Branch, China Construction Bank Corporation Beijing, Swiss Branch Zurich, DBS Bank Ltd, London Branch, DZ BANK AG, Emirates NBD PJSC London Branch, First Abu Dhabi Bank (PJSC), and UBS Switzerland AG joined as Mandated Lead Arrangers.
The Facilities were launched at USD 2.1 Billion on 23rd April and a bank meeting was held in London on 25th April. Following strong demand from banks, the Facilities were oversubscribed by more than 25%, and subsequently increased to USD 2.25 Billion in aggregate, with Mercuria choosing to scale back lender commitments.
The Facilities comprise a 1-year Multicurrency Revolving Credit Facility, a 1-year Multicurrency Revolving Credit/Swingline/OBSI Facility and two 3-year Revolving Credit Facilities. The two 1-year Multicurrency Revolving Credit Facilities (launched at USD 1.4 Billion) both include two 12-month extension options. A new 3-year Revolving Credit Facility (launched at USD 100 Million) also includes one 12-month extension option, while the existing 3-year Revolving credit Facility (USD 600 Million) was extended by one year aligining the maturity with the new USD 100m 3-year facility. The Facilities will be used for general corporate purposes and working capital.
“The renewal of our 2019 European RCF (ERCF) has again been a success and another strong vote of confidence coming from our banking partners that value the resilience and performance of the business model developed by Mercuria over the past 15 years” said Guillaume Vermersch, Group Chief Financial Officer of Mercuria. “Across a diversified portfolio of over 40 banks joining this USD 2.25 billion ERCF facility, Mercuria has continued to strengthen its strategic banking relationships supporting the continued growth of the firm.”
The following banks joined the Bookrunning Mandated Lead Arrangers and Mandated Lead Arrangers in general syndication:
Lead Arranger:
Agricultural Bank of China Limited, London Branch
Agricultural Bank of China Limited, Frankfurt Branch
MUFG Bank, Ltd.
Arranger:
Banco do Brasil AG
KfW IPEX-Bank GmbH
Nedbank
Co-Arrangers:
CaixaBank, S.A.
Erste Group Bank AG, London Branch
Lloyds Bank plc
Raiffeisen Bank International AG
Sumitomo Mitsui Trust Bank, Limited (London Branch)
Participants:
Absa Bank Limited
Bank of Taiwan
Banque Cantonale de Geneve
Banque Cantonale Vaudoise
First Commercial Bank, Limited
Hua Nan Commercial Bank Ltd, London Branch
Industrial and Commercial Bank of China Limited, Beijing, Zurich Branch
The National Bank of Ras Al-Khaimah (P.S.C.)
Zürcher Kantonalbank
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